Wells Fargo & Company Increases Allegion (NYSE:ALLE) Price Target to $152.00

by · The Markets Daily

Allegion (NYSE:ALLE – Free Report) had its price objective increased by Wells Fargo & Company from $137.00 to $152.00 in a research note published on Monday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the scientific and technical instruments company’s stock.

A number of other analysts have also recently weighed in on the company. Barclays raised their price target on Allegion from $117.00 to $135.00 and gave the company an underweight rating in a research note on Wednesday, October 2nd. StockNews.com upgraded Allegion from a hold rating to a buy rating in a research note on Saturday, July 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $132.00.

Read Our Latest Research Report on ALLE

Allegion Stock Up 0.8 %

Shares of NYSE ALLE opened at $146.55 on Monday. The stock has a market cap of $12.81 billion, a P/E ratio of 23.91, a PEG ratio of 4.38 and a beta of 1.12. The company has a current ratio of 1.66, a quick ratio of 1.23 and a debt-to-equity ratio of 1.40. Allegion has a 12-month low of $95.94 and a 12-month high of $147.14. The business’s fifty day simple moving average is $137.68 and its 200-day simple moving average is $128.79.

Allegion (NYSE:ALLE – Get Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.12. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The company had revenue of $965.60 million for the quarter, compared to analysts’ expectations of $953.63 million. During the same period last year, the firm earned $1.76 earnings per share. Allegion’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, equities analysts predict that Allegion will post 7.26 EPS for the current fiscal year.

Allegion Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend was Friday, September 20th. Allegion’s dividend payout ratio (DPR) is currently 31.32%.

Institutional Trading of Allegion

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Crewe Advisors LLC grew its holdings in shares of Allegion by 160.2% during the second quarter. Crewe Advisors LLC now owns 242 shares of the scientific and technical instruments company’s stock worth $29,000 after buying an additional 149 shares during the last quarter. Gradient Investments LLC purchased a new position in shares of Allegion during the second quarter worth about $38,000. Kimelman & Baird LLC purchased a new position in shares of Allegion during the second quarter worth about $39,000. Blue Trust Inc. grew its holdings in shares of Allegion by 54.0% during the second quarter. Blue Trust Inc. now owns 345 shares of the scientific and technical instruments company’s stock worth $41,000 after buying an additional 121 shares during the last quarter. Finally, Covestor Ltd grew its holdings in shares of Allegion by 255.7% during the first quarter. Covestor Ltd now owns 313 shares of the scientific and technical instruments company’s stock worth $42,000 after buying an additional 225 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Allegion Company Profile

(Get Free Report)

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door controls and systems and exit devices; locks, locksets, portable locks, and key systems and services; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors, accessories, and other.

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